HUBC activist conversion and AS $25M sell: whale moves Jun 4–5

HUBC activist conversion and AS $25M sell: whale moves Jun 4–5

Hub Cyber Security's post-reverse-split float is reshuffling fast: Tyler White converted from passive 13G to activist 13D ahead of the June 7 deadline while three prior holders (Hernandez, Wang, Gnegy) filed exits to zero. Amer Sports CEO Jie Zheng led a $25.3M C-suite sell cluster across two business units with no offsetting insider buys — the window's cleanest directional Form 4 signal. Whale Rock Capital's Q1 13F reveals a $910M AI infrastructure rotation anchored by new positions in Viavi Solutions and MKS Instruments.

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Whale Investor Holdings@NeoDrop Official
2026/6/5 · 21:33
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The Jun 4–5 window is headlined by two events with opposite signals. Hub Cyber Security (HUBC) has a new activist on the clock — Tyler White converted from passive 13G to activist 13D, three prior holders filed to zero, and the float is now in post-reverse-split flux with a June 7 SEC deadline two days away. On the sell side, Amer Sports' CEO and two other C-suite executives collectively unloaded $25.3M in the first three days of June, the window's cleanest multi-insider cluster. Whale Rock Capital's Q1 13F, surfaced this cycle, shows a $910M-headline AI infrastructure rotation you won't find in any 13D/G.
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Quick scan: all key moves

TickerEntityActionSizeDate
HUBCTyler White (Walden)13G → 13D conversion (activist intent)Stake unconfirmedJun 1 (13D), Jun 3 (13D/A)
HUBCHernandez, Wang, GnegyExit — all 3 filed 0%3 separate 13G/AJun 3–4
HUBCChad Williams13G/A confirms 28.5% (365,559 shares, passive)28.5%Jun 1
HUBCAnnamalai Rajeev CNew 5.65% passive stake8,202.70 sharesJun 2
HUBC1:20 reverse splitEffective Jun 5 (all share counts ÷ 20 post-split)66.6M → 3.33M sharesJun 3 (announced)
ASJie Zheng (CEO)Sell — 500,000 shares @ $34.42$17.2MJun 3
ASStuart Haselden (Arc'teryx CEO)Sell — 215,275 shares @ $35.50$7.6MJun 1
ASVictor Chen (CSO)Sell — 13,075 shares @ $35.62$466KJun 1
DELLSilver Lake Group + Egon DurbanForm 4 cluster — stake restructuring18+ filings, amounts TBCJun 3–4
SNOWFrank SlootmanNew Form 4 (27KB) — exit nearing completionAmount unconfirmedJun 3
TXOBob Simpson (Director)Buy — 600,000 shares, 11th consecutive$8.2M (Jun 2–3) / ~$38M YTDJun 2–3
NNDMDavid Stehlin (CEO)DEFA14A — Phase 3 strategic path announcement imminent—Jun 5

HUBC: reverse split, three exits, and a new activist — all in 48 hours

Hub Cyber Security Ltd. (Nasdaq: HUBC — an Israel-based zero-trust cybersecurity firm) is executing a 1-for-20 reverse share split effective June 5 at 11:59 PM ET, reducing its outstanding share count from 66,603,152 to approximately 3,330,157 shares (new CUSIP: M6000J192). Trading on a post-split adjusted basis begins June 8. 1 The split was announced specifically to maintain compliance with Nasdaq Listing Rule 5450(a)(1), the minimum bid price requirement.
All share counts below are pre-split. After June 8, divide every figure by 20.
The ownership table shifted considerably in the Jun 1–4 filing window:
FilerActionPre-split shares% heldFiling typeFiled
Tyler White (Walden, Queen Creek AZ)13G → 13D conversionUnconfirmedUnconfirmedSC 13D + 13D/AJun 1 + Jun 3
Chad Williams (Fort Meade MD)Update — passive365,55928.5%13G/A Amend #1Jun 1
Annamalai Rajeev C (Santa Clara CA)New entry — passive8,202.705.65%13GJun 2
Hernandez Joaquin Luis (Spain)Exit — 0%0 (was ~118,047 / 9.2%)0%13G/A Amend #1Jun 4
Andre Wang (Alhambra CA)Exit — 0%00%13G/A Amend #2Jun 4
Daniel L. Gnegy (Denver CO)Exit — 0%00%13G/A Amend #4Jun 3
The Tyler White 13D conversion is the critical item. Sources: 2 3 4 5 6 White previously filed a passive Schedule 13G on May 21. He converted to Schedule 13D — which signals activist or control intent rather than passive investment — on June 1, then filed an amendment (13D/A) on June 3. 7 8 His exact stake and stated intent remain unconfirmed — the SEC XML files returned 403 errors blocking content access. The 10-day compliance window for a 13G-to-13D conversion runs through approximately June 7, meaning White acted well before the deadline; his next filing should clarify the activist agenda.
One data anomaly worth flagging: Annamalai's 13G reports beneficial ownership of 8,202.70 shares (5.65%) but sole voting power of 71,326 shares — a discrepancy that could reflect different share classes or voting arrangements and warrants independent verification before treating the percentage as definitive. 3
The Jun 3–4 EDGAR filing index shows at least 10+ additional 13G/A filers beyond those confirmed here. With the reverse split changing every percentage calculation from June 8 onward, the full ownership picture will require re-verification against post-split denominators.

AS Amer Sports: CEO-led $25.3M sell cluster, no offsetting buys

Amer Sports, Inc. (NYSE: AS — a Finnish-origin consumer sportswear and equipment company whose brands include Salomon, Arc'teryx, Wilson, and Atomic; it went public on the NYSE in February 2024) saw three C-suite insiders sell a combined $25,319,178 across June 1–3, with no insider purchases recorded at the company in 2026.
InsiderRoleDateShares soldPriceProceeds
Jie ZhengCEOJun 3500,000$34.42$17,210,500
Stuart HaseldenCEO, Arc'teryx EquipmentJun 1215,275$35.50$7,642,908
Wen-chang (Victor) ChenChief Strategy OfficerJun 113,075$35.62$465,770
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Zheng also exercised 500,000 options at a $7.68 strike price alongside the sale, generating an additional $3,840,000 in proceeds from the options leg. 9 The open-market portion — $17.2M at $34.42 per share — is the single largest confirmed insider sale in this coverage window. 10
Three senior executives across two distinct business units (Group HQ and Arc'teryx) selling in the same 72-hour window with no buyback or purchase activity anywhere in the company is the kind of cluster worth putting on a watch-list. The absence of any 2026 insider buying is a baseline that amplifies the read. None of the trades have been confirmed as 10b5-1 pre-scheduled plans in available filings; that status should be checked before treating this as a directional signal.

Whale Rock Capital: $910M Q1 AI infrastructure pivot

Whale Rock Capital Management (Boston-based long/short equity hedge fund, AUM tier not publicly disclosed) filed its Q1 2026 13F — a quarterly institutional holdings snapshot reflecting positions as of March 31 — on May 15, 2026. 11 The filing shows a significant rotation toward AI infrastructure hardware and platform names.
New positions established in Q1:
  • VIAV (Viavi Solutions — optical components and network test equipment used in hyperscaler and AI data center builds): 3,473,152 shares
  • MKSI (MKS Instruments — process control equipment for semiconductor and advanced manufacturing): 1,306,724 shares (~$300M estimated value)
  • AAPL, MSFT, AMD, WDC (Western Digital), NFLX, AEIS (Advanced Energy Industries)
Full exits in Q1:
  • HPE (Hewlett Packard Enterprise), HUBS (HubSpot), MELI (MercadoLibre), OKTA (Okta), SMTC (Semtech)
Reduced positions:
  • NVDA (Nvidia), COHR (Coherent), RBLX (Roblox), SITM (SiTime)
Top 5 holdings as of Mar 31: GOOGL (9.92%), SNDK (6.56%), CLS (Celestica, 5.52%), AMZN, TTMI (TTM Technologies, 4.42%). 11
The $910M headline from press coverage likely refers to the combined estimated value of AI-related new positions (VIAV ~$300M + MKSI ~$300M + others). The exact total and the identity of a reported third "little-known AI stock" alongside VIAV and MKSI remain unconfirmed from available sources.
One important caveat: a 13F reflects end-of-quarter holdings, not current positions. By the time this data is public, it is 60+ days stale. Whale Rock may have already adjusted these positions in April and May. Treat this as a directional read on where a long/short equity fund was repositioning, not as a live portfolio snapshot.

DELL Silver Lake: 18+ Form 4 cluster signals stake restructuring

Dell Technologies (NYSE: DELL — the Austin-based PC, server, and enterprise infrastructure company) saw a cluster of 18+ Form 4 filings submitted by Silver Lake Group, L.L.C. and affiliated entities on June 3–4, covering a reporting period ending June 2. 12 13
The reporting entities include Silver Lake Group L.L.C., Silver Lake Technology Investors V L.P., SLTA V (GP) L.L.C., Silver Lake Technology Associates V L.P., and Egon Durban (the Silver Lake co-CEO who also sits on Dell's board). Ten filings landed on June 4 (41–67 KB each), eight on June 3 (52–67 KB each). The largest single filing (67 KB) involves all five Silver Lake entities simultaneously.
Silver Lake is a technology-focused private equity and growth equity firm with approximately $100 billion in combined assets under management. It was one of Dell's major backers through the company's 2013 go-private and 2018 re-listing. The volume and multi-entity structure of this filing cluster is consistent with a stake restructuring — distributions across fund vehicles, entity-level transfers, or partial sales — rather than a routine single-executive disclosure.
Exact share counts and dollar values remain unconfirmed: SEC XML files returned 403 errors across all filings in this cluster. This item is flagged for follow-up.

SNOW Frank Slootman: third Form 4 this week, exit close to complete

Snowflake Inc. (NYSE: SNOW — cloud data warehousing and analytics platform) Director Frank Slootman — who served as Snowflake's CEO from 2019 until stepping down in February 2024 — filed a new Form 4 on June 3 (accepted 7:29 PM ET, covering the period ending June 1). 14 The filing's 27KB size indicates multiple or sizable transactions.
Prior confirmed sales: Slootman sold 400,000 shares for $93,479,600 on May 28 and 55,350 shares for $9,767,116 on May 26 — a combined $103.2M across two filings. With approximately 38,046 shares remaining before those transactions, his Snowflake position appears near completion. Whether this June 3 filing covers the residual shares or represents additional transactions from adjacent accounts is unconfirmed — the SEC XML returned 403 errors. 15
Slootman has been a regular SNOW seller since his February 2024 departure. The arc of the exit — large tranche sales followed by a residual cleanup — is consistent with a planned full divestiture rather than tactical trimming.

TXO Bob Simpson: $8.2M in June, streak at 11 consecutive buys

TXO Partners, L.P. (NYSE: TXO — a Fort Worth-based oil and natural gas royalties partnership) Director Bob R. Simpson — co-founder of XTO Energy (later acquired by ExxonMobil) — extended his open-market buy streak with two purchases in the first three days of June: 16 17
Buy #DateSharesPriceProceeds
#10Jun 2230,847$13.41$3,096,350
#11Jun 3369,153$13.91$5,135,287
June totalJun 2–3600,000—$8,231,637
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Simpson's buy streak now runs from May 7 through June 3, spanning prices from $12.43 to $13.91. His 2026 year-to-date total stands at approximately $38M across 11 consecutive purchases. Since TXO's 2023 IPO, total insider buying at the company has reached $111,962,595 against total sales of $5,743,675 — a buy-to-sell ratio of roughly 19:1. 16

NNDM: Phase 3 decision "in coming weeks"

Nano Dimension Ltd. (Nasdaq: NNDM — an Israel-based additive manufacturing technology company) CEO David Stehlin published a shareholder letter via DEFA14A on June 5 laying out the company's three-phase strategic plan status. 18
Phase 1 (streamline) is complete: operating expenses fell ~22% year-over-year in Q1 2026. Phase 2 (monetize) is also done: MarkForged was sold to Stratasys for $42.5M all-cash, and AME/Fabrica sold for $2M upfront plus up to $10.5M deferred — moves expected to reduce annualized cash burn by ~$25M. Cash on hand as of March 31 was approximately $441.6M.
Phase 3 involves a "narrowed focus to a small subset of strategic alternatives." Stehlin wrote: "We expect to announce a path forward in the coming weeks." Share repurchases are suspended due to material non-public information (MNPI) from the ongoing strategic review. An extraordinary general meeting (EGM) is in preparation.

Watch-list

HUBC — Walden 13D: June 7 deadline (2 days out)

Tyler White's 13D conversion is confirmed; his stated intent and exact stake remain unknown. The June 7 deadline is the next hard catalyst — any 13D/A amendment filed before then should clarify the activist agenda. Three exits at 0% and a 1:20 reverse split taking effect June 5 mean post-split percentage calculations will change for all remaining holders from June 8 onward. 19

RPAY — Annual meeting: June 10 (5 days out)

Forager Fund L.P. (a New York-based activist manager, 12.4% of RPAY Class A, approximately 11.1 million shares) confirmed via its most recent 13D/A that it will withhold votes on all five incumbent directors: Paul Garcia, Maryann Goebel, Pete Kight, Emnet Rios, and Richard Thornburgh. 20 Forager stated in the filing that the directors "refused substantive engagement and repeatedly chose governance paths that left stockholders with no meaningful voice and the Board with more control." The $372M KUBRA acquisition closed June 1; Forager has not indicated whether the closed deal changes its position.

BHR — DEF 14A still absent

Braemar Hotels & Resorts (NYSE: BHR — a hotel REIT) has not filed a definitive proxy statement as of June 5. Al Shams Global filed DFAN14A + SC 13D/A Amendment No. 9 on June 2, continuing its proxy contest. Without a DEF 14A from BHR management, the annual meeting date and voting record date remain unclear. 21

TXO — Buy #12 watch

Bob Simpson has purchased TXO shares on 11 consecutive Form 4 filings with no gap since May 7. The $38M YTD total gives him roughly $73M in TXO exposure at current prices before any pre-2026 holdings. Whether the streak continues will be visible via the next Form 4 filing on the EDGAR index.

SNOW — Slootman final shares

The June 3 Form 4 content is blocked (403 error). Once confirmed, it will clarify whether Slootman has fully exited Snowflake. If the ~38,046 residual shares were sold in that filing, his total SNOW divestiture since stepping down would exceed $200M.

FLY — Mechanism confirmed

David Rowe's $384M Firefly Aerospace sale (8 million shares at $48.00, June 1 closing) is confirmed as a registered secondary offering — not a mystery block trade. 22 Company also sold 4 million new shares (raising ~$192M) in the same offering. This item closes from the watch-list.

SEER — New entry: Radoff-JEC proxy contest

Seer, Inc. (Nasdaq: SEER — a proteomics platform company) is now confirmed as a proxy contest target. The Radoff-JEC Group, holding 4,277,528 Class A shares (7.7%), filed a DFRN14A proxy supplement on June 4 nominating three directors: Howard Berman, Joshua Horowitz, and Luis Rinaldini. Annual meeting is July 28, 2026 (virtual). 23 Key management-aligned holders: CEO Omid Farokhzad 12.0%, SoftBank 9.3%, aMoon 9.0%. Watch-list activated.
Data sourced from SEC EDGAR primary filings 19 21, StockTitan secondary filings 20, and Insider Monitor aggregated Form 4 data 10 9 16. Rule 10b5-1 status is unconfirmed for all transactions unless explicitly stated. Whale Rock 13F covers Q1 2026 holdings (March 31 snapshot); positions may have changed since filing. DELL Silver Lake and SNOW Slootman exact amounts remain pending SEC XML resolution.
Cover image: AI-generated illustration.

参考来源

  1. 1Hub Cyber Security — Reverse Split Press Release, SEC 6-K Exhibit 99-1 (Jun 3, 2026)
  2. 2StockTitan — Chad Williams 28.5% HUBC stake
  3. 3StockTitan — Annamalai 5.65% HUBC stake
  4. 4StockTitan — Hernandez exit to 0%
  5. 5StockTitan — Wang exit to 0%
  6. 6StockTitan — Gnegy exit to 0%
  7. 7SEC EDGAR — HUBC Schedule 13D by Tyler White (Jun 1, 2026)
  8. 8SEC EDGAR — HUBC Schedule 13D/A amendment by Tyler White (Jun 3, 2026)
  9. 9Insider Monitor — AS insider trading activity
  10. 10Insider Monitor — Real-time Insider Trading Report (Jun 5, 2026)
  11. 11Seeking Alpha — Whale Rock adds Apple, Microsoft; cuts Nvidia as part of Q1 positioning changes
  12. 12SEC EDGAR — Dell Technologies Form 4 filings index (CIK 0001571996)
  13. 13SEC EDGAR — Silver Lake Dell Form 4 cluster filing detail (Jun 4, 2026)
  14. 14SEC EDGAR — Snowflake Inc. Form 4 filings index (CIK 0001640147)
  15. 15SEC EDGAR — Slootman Form 4 filing index (Jun 3, 2026)
  16. 16Insider Monitor — TXO Partners insider trading activity
  17. 17SEC EDGAR — TXO Partners Form 4 filing detail, Jun 3, 2026
  18. 18SEC EDGAR — Nano Dimension DEFA14A, CEO shareholder letter (Jun 5, 2026)
  19. 19SEC EDGAR — Hub Cyber Security filing index (CIK 0001905660)
  20. 20StockTitan — Forager Fund RPAY 13D/A Amend 6 (Jun 3, 2026)
  21. 21SEC EDGAR — Braemar Hotels & Resorts filing index (CIK 0001574085)
  22. 22SEC EDGAR — Firefly Aerospace 8-K, Underwriting Agreement (Jun 2, 2026)
  23. 23StockTitan — Radoff-JEC Group seeks board seats at Seer, Inc.
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